Tag: southern california bankruptcy Archive
Personal Bankruptcy: How Does it Affect a Trust?
When a trust is thrown into the mix, a personal bankruptcy can take on a whole different appearance. First and foremost, it is essential that you are aware of who is in control of the trust assets. Although you are able to file bankruptcy on your own, having an attorney ...
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Selling Your Property Inside an Active Bankruptcy
If you are considering both selling your house AND filing for bankruptcy, you should consider a few “bankruptcy” facts before moving forward. First, there are differences between the bankruptcy dismissal and the bankruptcy discharge. A bankruptcy discharge indicates that all debts are written off or paid in full. However, a ...
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Avoiding Bankruptcy and Repossession
If you are thinking about declaring bankruptcy, take some time to consider your entire debt. Consider all your options. Talk to the experts on the subject. Weight the options to determine if bankruptcy is the most appropriate choice. It could be that your situation would be handled better using a ...
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Obtaining Bankruptcy Protection
When a person needs bankruptcy protection, they often cannot afford to pay their attorney for filing the bankruptcy. In such a case, one could look to their family to assist them in paying these fees so that they can receive the protection they need. There is a possibility that a ...
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Bankruptcy Post-Divorce: Good News & Bad News
If you are filing for bankruptcy post-divorce and you owned a home during your marriage…we’ve got both good and bad news for you. If a Home Equity Line of Credit (“HELOC”) is included in a Chapter 7 bankruptcy, the liability on that HELOC is gone once a discharge notice is ...
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The 3 Worst Things to Do Before You Declare Bankruptcy
If you’ve decided to declare bankruptcy, I hope you’ve talked to a professional and you have all your ducks in a row. But if not…you may be unaware of a few very important aspects of bankruptcy. First, it’s a real legal process. You can’t just fly by the seat of ...
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Who Can Collect on My Home Loans Post-Bankruptcy?
After filing for Chapter 7 bankruptcy, you receive a discharge of debt. Many who do so, continue to pay their mortgage payments (and second mortgage payments) even though they did not reaffirm the debt during their bankruptcy. This means that they did not agree to continue paying according to the ...
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Bankruptcy for the Authorized User
Many consumers are confused by the difference between being an account holder and an authorized user on a credit account. It gets more confusing when there’s a divorce involved and if you add a bankruptcy to the mix, it gets positively convoluted. If you are an authorized user on a ...
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Are Homeowners Eligible to File Chapter 7 Bankruptcy?
The two most common bankruptcy options are: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Many individuals worry about filing bankruptcy for fear that they will lose their house. Others, who have learned they don’t have to lose their house when they file for bankruptcy, still think that they have to ...
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Bankruptcy Questions from Creditors
As a southern California bankruptcy attorney, I receive a lot of questions. Most are from people who want to file bankruptcy, just filed bankruptcy or filed years ago and are now wondering how it could affect their current situation. What we don’t usually get are questions from creditors regarding how ...
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